The price of oil fell to an annual minimum

Цена на нефть упала до годового минимума

“Black gold” is rapidly becoming cheaper

Last Friday quotations of Brent fell by 9%, WTI – by 7.3%. The weekly price decrease was the seventh in a row.

World oil prices reference marks accelerated the decline, dropping to an annual minimum. This according to the auction on Friday, November 23.

So, the price of January futures for North sea Brent crude on London exchange ICE Futures at 13:00 Kyiv fell by $1.91 a (3,05%) to $60,69 per barrel.

In turn, the price of oil WTI for January delivery in electronic trading on the new York Mercantile exchange (NYMEX) fell $2,55 (about 4.67%) to $52,08 per barrel.

As noted by Interfax, the price of oil fell below $61 per barrel for the first time since November 2017. During the day the price of Brent fell below the support level of 38.2% according to Fibonacci ($of 62.27 per barrel), which is another signal the possibility of further price fall.

“We broke down some levels of technical support, so you may experience rapid closure of long positions. It seems we are facing another period of sharp fluctuations,” – said the chief market strategist at CMC Markets Asia Pacific Michael McCarthy.

Last Friday quote of the futures on Brent fell by more than 9%, WTI – by 7.3%. Day low prices will be the seventh in a row.

Цена на нефть упала до годового минимума

Quotes on Brent for a week has fallen by 9%. Photo: screenshot

Earlier this week, U.S. President Donald trump called the fall in oil prices “gorgeous” and thanked him for Saudi Arabia.

In Russia said that oil prices in the long term, seriously reduced to approximately $50 will be approximately at this level in real terms.

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